Ciena’s (NYSE:CIEN) “Buy” Rating Reiterated at William Blair

Ciena (NYSE:CIEN)‘s stock had its “buy” rating reissued by stock analysts at William Blair in a research report issued on Monday, November 13th. William Blair also issued estimates for Ciena’s Q1 2018 earnings at $0.25 EPS, Q2 2018 earnings at $0.36 EPS, Q3 2018 earnings at $0.46 EPS, Q4 2018 earnings at $0.58 EPS and FY2018 earnings at $1.66 EPS.

A number of other equities research analysts have also issued reports on the stock. Stifel Nicolaus restated a “buy” rating and issued a $30.00 target price on shares of Ciena in a research note on Friday, September 1st. Piper Jaffray Companies reiterated a “buy” rating and set a $30.00 price objective on shares of Ciena in a research note on Thursday, August 31st. MKM Partners reiterated a “buy” rating on shares of Ciena in a research note on Thursday, August 31st. UBS set a $31.00 price objective on shares of Ciena and gave the stock a “buy” rating in a research note on Wednesday, August 30th. Finally, Citigroup upgraded shares of Ciena from a “neutral” rating to a “buy” rating and raised their price target for the company from $23.87 to $29.00 in a research note on Wednesday, August 30th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $29.43.

Shares of Ciena (CIEN) traded down $0.02 during trading on Monday, reaching $21.73. 2,891,089 shares of the company were exchanged, compared to its average volume of 2,474,036. The company has a current ratio of 2.92, a quick ratio of 2.50 and a debt-to-equity ratio of 0.99. Ciena has a 12-month low of $19.40 and a 12-month high of $27.98. The stock has a market cap of $3,103.47, a PE ratio of 15.76, a price-to-earnings-growth ratio of 0.85 and a beta of 1.67.

Ciena (NYSE:CIEN) last posted its quarterly earnings data on Thursday, August 31st. The communications equipment provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. The company had revenue of $728.70 million during the quarter, compared to analysts’ expectations of $726.81 million. Ciena had a net margin of 4.99% and a return on equity of 25.53%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 EPS. analysts predict that Ciena will post 1.51 earnings per share for the current year.

In other Ciena news, CEO Gary B. Smith sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $20.55, for a total value of $205,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Gary B. Smith sold 8,000 shares of the firm’s stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $21.74, for a total transaction of $173,920.00. The disclosure for this sale can be found here. Insiders have sold a total of 89,052 shares of company stock worth $1,899,418 in the last 90 days. 1.45% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of CIEN. Parametric Portfolio Associates LLC lifted its holdings in Ciena by 15.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 187,277 shares of the communications equipment provider’s stock valued at $4,686,000 after purchasing an additional 25,663 shares during the last quarter. Marshall Wace North America L.P. bought a new position in shares of Ciena in the second quarter worth about $2,679,000. Legal & General Group Plc raised its stake in shares of Ciena by 31.4% in the first quarter. Legal & General Group Plc now owns 91,386 shares of the communications equipment provider’s stock worth $2,159,000 after acquiring an additional 21,834 shares during the last quarter. Dupont Capital Management Corp raised its stake in shares of Ciena by 150.1% in the second quarter. Dupont Capital Management Corp now owns 72,528 shares of the communications equipment provider’s stock worth $1,815,000 after acquiring an additional 43,528 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Ciena in the second quarter worth about $1,927,000.

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About Ciena

Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.

Analyst Recommendations for Ciena (NYSE:CIEN)

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